Market Update

Japanese stocks rose Thursday, May 6, to record their largest percentage gain in two weeks, as investors flocked to stocks linked to the economic cycle after Wall Street’s gains, but technology stocks that tracked the fall of the Nasdaq index limited the gains. The Nikkei index advanced 1.8% to close …

The United States Federal Reserve Vice Chairman, Richard Clarida, said on Wednesday that time is yet to come for reducing the massive bond-buying or raising the historically low-interest rates. Speaking on behalf of the central bank, Clarida told reports “we will get more data, and as we move through the …

Oil prices showed a mixed performance on Wednesday, following the release of the weekly inventories report in the United States. Another increase in gasoline stockpiles increased worries about demand recovery. Brent crude futures for June delivery added 8 cents, or 0.1%, to reach $68.96 a barrel. Meanwhile, the U.S. West …

Gold prices rose on Wednesday after declining yesterday due to comments about the U.S. Treasury Secretary that suggested nearing an interest rate hike. The U.S. Secretary of the Treasury, Janet Yellen, is also the former leader of the Federal Reserve. She was the central bank’s first Chairwoman. Yellen walked back …

European stocks recovered on Wednesday with their best daily performance in about two months. The pan-European STOXX 600 index gained 1.8%, with the basic resources sector surging by 4.7% to its highest level in about 10 years, while the tech sector added 2.7% to recovery some of its recent sharp …

Private payrolls in the United States increased in April, registering its largest rise in seven months, data showed on Wednesday. The ADP National Employment Report showed that private payrolls rose by 742,000 jobs last month, recording its biggest increase since September. Meanwhile, the March reading was revised upward to indicate …

Crude oil prices rose on Wednesday, maintaining an upward trend for the third session in a row, following the release of the U.S. Energy Information Administration (EIA) weekly report. The supplies weekly report showed that oil inventories in the United States declined by more than expected last week, falling by …

The United States services sector expanded with a relatively slower pace in April, data showed on Wednesday. The Institute for Supply Management (ISM) non-manufacturing activity index declined to 62.7 in April from a reading of 63.7 in March, which was a new record high. The services sector’s new orders index …

Business activity accelerated in the euro area last month, as the dominant service sector in the region ignored renewed lockdown measures and resumed growth, according to a survey on Wednesday that also indicated that companies are facing rising raw material costs. Europe is facing a third wave of the Coronavirus, …

European stocks recovered on Wednesday May 5th from a sharp sell-off in the previous session, as higher commodity prices contributed to the rise in mining companies’ shares, while the business results season maintained positive momentum, improving sentiment in the markets. The European Stoxx600 index rose 0.8% in early trade, the …